Your credit is a valuable resource. Good credit can help save you money on all sorts of purchases. From getting approved for a credit card to buying the home of your dreams, your credit plays a big role in achieving your financial goals. Monitoring your credit is a healthy habit that can aid in spotting early signs of identity theft and negotiating the best deals.
Your Personal Credit Score Has an Effect On:
- How much you pay for homeonwers and auto insurance
- Whether or not a landlord will rent to you and the rental terms
- How high your interest rate is on your home mortgage
- How high your interest rate is on auto or other loans
- The total amount of credit you can get from lenders
- Your chances of employment
When You’re On Top of Your Credit Information, You Can:
- Help protect your identity, giving you and your family peace of mind
- Help manage and protect the credit you’ve worked hard to earn
- Shop confidently online and in stores knowing that you’ve earned the best interest rates by carefully managing and monitoring your credit
Important Factors That Determine Your Credit Score:
- Whether you pay your bills on time or late
- How much you currently owe to all of your creditors
- How long you’ve had a credit history
- How much credit you have available
- How much of that available credit you are using
- How many recent inquiries have been made
- How much new credit you’ve received
What’s Included in a Credit Report:
- Records of your bankruptcies, tax liens and monetary judgments against you, available from public sources.
- Information about all your accounts, including loan amounts, current balances and payment patterns over the past several years.
- The names of companies that have obtained a copy of your credit report.
- Your name, current and previous addresses, phone number, Social Insurance Number, date of birth, and current and previous employers.
- Disputes between you and your creditors, including both the creditor’s statement of the account, as well as your own.